Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Negative equity NBB
More debt than assets in 2 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 7 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
PGHM Distribution from Paliseul, company number BE0784689913, closed financial year 2025 with a result of € -102,218 after tax. For that financial year PGHM Distribution recorded a gross margin of € 241,810 and equity of € -121,695. Compared with financial year 2024, the result moved from € -59,274 to € -102,218. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on October 21, 2026.
€ -121,695
▼ € 102,218 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -102,218
▼ 72 % more loss than in 2024
Profit after tax over the fiscal year.
€ 9,387
▼ 54% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -246,695.
People and assets in 2025
€ 212,184
▲ 5% vs 2024
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 111,735
▼ 39% vs 2024
Of which on lease € 110,403.
Debts at end 2025
€ 435,365
▼ 17% vs 2024
€ 94,468 is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 506,044
▲ 1% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 45,076
▼ 7% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 184,787 | € 67,790 | € 280,917 | € 241,810 | ▼ 14% |
| Profit after taxes | € 145,023 | € -230,226 | € -59,274 | € -102,218 | ▼ € 42,944 |
| Equity | € 270,023 | € 39,797 | € -19,477 | € -121,695 | ▼ € 102,218 |
| Total debts | € 1,200,250 | € 1,247,966 | € 1,203,569 | € 1,126,464 | ▼ 6% |
| Cash | € 370,106 | € 49,056 | € 20,428 | € 9,387 | ▼ 54% |
| Land & buildings | € 573,246 | € 709,868 | € 671,633 | € 633,398 | ▼ 6% |
| Retained profit | € 145,023 | € -85,203 | € -144,477 | € -246,695 | ▼ € 102,218 |
| Bank debt | € 410,120 | € 614,687 | € 526,595 | € 435,365 | ▼ 17% |
| Balance sheet total | € 1,470,273 | € 1,287,763 | € 1,184,092 | € 1,004,769 | ▼ 15% |
Key figures of PGHM Distribution, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to PGHM Distribution?
What happened at PGHM Distribution in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 102,218. filed late Source: NBB ↗
- Jonathan Defour became a director. NBB
- ADITOM SRL stepped down as director. NBB
- New establishment in Paliseul. KBO
- PIROT GROSJEAN MANAGEMENT became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 145,023 profit in 2022 to € 102,218 loss in 2025.
Best year ever: 2022, with € 145,023 profit.
Management
The stake of ADITOM comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
PGHM DistributionBehind PGHM Distribution are Jonathan Defour and PIROT GROSJEAN MANAGEMENT. The shares are held by ADITOM (20%).
Directors
According to the 2025 annual accounts
Jonathan Defour
Director
since 2025
Director · represented by Julien GROSJEAN
Also active at: VITACURA, PETROSUN EUROP, LA REUNION, PHARMACIE DU MOULIN, PHARMAGILLY
since 2022
Director · represented by Thomas HENROTTE
· until 2025
Shareholders
20%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Avenue de France, Maissin 22
6852 Paliseul
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0784.689.913
- VAT number
- BE 0784.689.913
- Registered office
- Avenue de France, Maissin 22, 6852 Paliseul
- Names & denominations
- PGHM Distribution
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 11 April 2022
- Peppol
- Active · Active since 24 Nov 2023
- Contact
- [email protected] +32479809026
- Activities · NACE
Niet-gespecialiseerde detailhandel waarbij voedings- en genotmiddelen overheersen
Detailhandel in niet-gespecialiseerde winkels waarbij voedings- en genotmiddelen overheersen (verkoopsoppervlakte tussen 400 m² en minder dan 2500 m²)
Detailhandel in dranken, algemeen assortiment
Detailhandel in tabaksproducten